Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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What were Alda's total liabilities at the end of the year? On this accounting question

Alda Inc. had assets of $255,000 and liabilities of $127,000
at the beginning of the year. During the year, revenues were
$143,000 and expenses were $91,000. Also, during the year
the business paid the owners a dividend of $5,000 and assets
increased by $21,000.
What were Alda's total liabilities at the end of the year?
a. $101,000
b. $145,000
c. $195,000
d. $246,000
e. $153,000
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Transcribed Image Text:Alda Inc. had assets of $255,000 and liabilities of $127,000 at the beginning of the year. During the year, revenues were $143,000 and expenses were $91,000. Also, during the year the business paid the owners a dividend of $5,000 and assets increased by $21,000. What were Alda's total liabilities at the end of the year? a. $101,000 b. $145,000 c. $195,000 d. $246,000 e. $153,000
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